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Most people in crypto do not understand anything about economics. They understand ponzi/ greater fool theory and how to obfuscate to the public and regulators t
by runbathtime 5y ago
Most people in crypto do not understand anything about economics. They understand ponzi/ greater fool theory and how to obfuscate to the public and regulators to pull the wool over someone's eyes.
- arberx 5y agoMost people do not understand anything about economics-in fact most economics is a work in progress.
- TheFreim 5y agoI'd go farther and take the Taleb route that NOBODY understands economics due to its random nature.
- walkedaway 5y agoThomas Sowell seems to have a solid grasp on economics. Too bad people don't study his work. Maybe if he wasn't black people in the US would listen to him.
- bun_at_work 5y agoThis is an outrageous statement. Thomas Sowell is a widely cited and studied economist. Many people study his work (including myself!). What does his being black have to do with anything? There is no group of people ignoring him for being black. In fact, the contemporary politics would suggest that, since he's black, he'd be democrat, but his economics are very libertarian, a group more associated with racists. So what are you on about? People don't "listen" to him because he's incredibly biased towards free-market economics, not because his skin color.
- TheFreim 5y agoI don't understand what you mean, Sowell is very well regarded here in the United States in a variety of political environments.
- runbathtime 5y agoThomas Sowell is a great great thinker. People do not study his work because it doesn't fit well with MMT and the micromanaging of an economy. Not because he is black. This obsession with race is ridiculous.
- dang 5y agoPlease stop taking HN threads further into ideological flamewar. We don't want that here; it's tedious, predictable, and regularly turns nasty. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- Jommi 5y agothis is true, its also problematic because you're studying a system that not only constantly changes but will also change based on the fact that you observe and report on it.
- qshaman 5y agothey do have figured out the pump and dump part
- qshaman 5y agowhy the downvoting, isnt that what most crypto influencers do? Anyway, have fun.
- dang 5y agoOk, but please don't post unsubstantive comments to HN and especially not flamewar comments. They're predictable and they make the threads nasty. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html